Sipchem suffers setback.Saudi International Petrochemical petrochemical, any one of a large group of chemicals derived from a component of petroleum or natural gas. The cracking processes for manufacturing gasoline produce vast quantities of gaseous hydrocarbons. Co (Sipchem) said second-quarter net profit fell 99.6% due to the global economic slowdown's impact on demand and product prices.
Sipchem made a net profit of 0.5 million riyals in the three months to June 30, compared with 133.8 million riyals a year earlier, it said in a statement.
It attributed the fall to the global financial crisis hitting demand for petrochemical products and prices which fell by 55 million riyals.
In addition, a methanol methanol, methyl alcohol, or wood alcohol, CH3OH, a colorless, flammable liquid that is miscible with water in all proportions. Methanol is a monohydric alcohol. It melts at −97. plant has been out of operation for 9 days, while a plant for butanediol has stopped working for 26 days due to unscheduled unscheduled
not planned or intended
Adj. 1. unscheduled - not scheduled or not on a regular schedule; "an unscheduled meeting"; "the plane made an unscheduled stop at Gander for refueling" maintenance.
Rising prices for butane butane (by`tān), C4H10, gaseous alkane, a hydrocarbon that is obtained from natural gas or by refining petroleum. had also hit profits, according to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. the statement.
The firm said it would use the period of falling prices to undergo scheduled plant maintenances between 20 and 25 days in the third quarter.
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